Good morning, y’all. For the first time in a while, tariffs and nervous hand-wringing over the state of the EGX and EGP are not dominating the local business news as we all get used to the new normal of FX volatility. Instead, our attention is turned to the end of this week when the central bank meets to decide interest rates, movement on the auto localization front, and Beltone wrapping its mega capital increase — one of the largest ever on the EGX.

PSA-

Here’s your holiday schedule for the rest of the month, courtesy of Prime Minister Moustafa Madbouly:

  • Monday, 21 April — Sham El Nessim;
  • Thursday, 24 April —Sinai Liberation Day (formally on Friday, 25 April);
  • Thursday, 1 May — Labor Day

^^ All three are paid holidays for the private sector and government workers alike.

Not (yet) a holiday: Coptic Easter, which falls this year on 20 April, is not a national holiday, but the Central Bank of Egypt typically orders banks to close for the day. The CBE has yet to release a statement outlining its plan for this year.

WEATHER- It’s another coolish day in Cairo today, with a high of 25°C and a low of 15°C, according to our favorite weather app.

It’s a few degrees cooler up in Alexandria, with a high of 21°C and a low of 13°C.

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ICYMI- Missed this week’s Inside Industry? In our weekly vertical exploring all things industry and manufacturing, we looked at how smartphone customs are fueling the government’s localization drive. Check out the story here.

WATCH THIS SPACE-

All of Egypt’s tourism investment prospects on one platform? The Tourism Ministry is setting up a tourism-focused investment platform, Tourism Minister Sherif Fathy said yesterday. The minister also highlighted efforts to fast-track tourism investment approvals to no more than two months.

REMEMBER- The government aims to attract some 25 mn tourists annually by 2028. To that end, it plans to add some 240-250k rooms to existing hotel room capacity — and that’s going to need a big uptick in investment.

DATA POINT-

The government has so far awarded 46 golden licenses to strategic projects with a combined investment value exceeding USD 13 bn, said General Authority of Freezones and Investment head Hossam Heiba said.

HAPPENING TODAY-

President Abdel Fattah El Sisi landed in Doha yesterday, kicking off a two-stop Gulf trip that will also see him visit Kuwait, according to an Ittihadiya statement. During his time in Qatar, El Sisi kicked off the trip with a meeting with Qatari Emir Sheikh Tamim bin Hamad Al Thani to discuss ways to boost cooperation in several sectors and regional developments, with a focus on Gaza.

Drumming up Qatari investor appetite for Egypt was also high on the agenda of El Sisi’s trip, with the president meeting with senior government officials that included the country’s prime minister, foreign affairs minister, finance minister, foreign trade minister and leaders in the business community to stress the investment case for Egypt, according to a separate Ittihadiya statement. El Sisi pointed to the country’s strategic location, skilled and affordable labor, efficient infrastructure, competitive energy prices, Arab and African free trade agreements, and a state pushing an investor-friendly legislative agenda to argue his case.

Next stop on the trip is Kuwait, where El Sisi will meet with several officials, including Kuwait’s Emir Sheikh Mishal Al Ahmad Al Sabah and Crown Prince Sheikh Sabah Khaled Al Sabah.

El Sisi’s visit received a lot of attention from the nation’s talking heads, with Kelma Akhira’s Lamees El Hadidi (watch, runtime: 2:33), Ala Masouleety’s Ahmed Moussa’s (watch, runtime: 5:05), and Al Hayah Al Youm’s Lobna Assal (watch, runtime: 4:08) all running the story. The trip sends a clear message that Arab coordination on key regional files — especially Gaza — remains strong, Al Ahram Center for Political and Strategic Studies head Ayman Abdel Wahab told El Hadidi (watch, runtime: 5:11).

CIRCLE YOUR CALENDAR-

Mark your calendars for AmCham’s flagship investment conference on 29 April at the Nile Ritz-Carlton. The full-day event will bring together policymakers, regional investors, and private-sector leaders to discuss the nation’s investment climate and growth sectors including energy, real estate, healthcare, education, fintech, and manufacturing.

Among the headline speakers are Investment Minister Hassan El Khatib, GAFI Chairman Hossam Heiba, Sovereign Fund of Egypt CEO Noha Khalil, and SCZone Chairman Walid Gamal El Din. The event will also feature a strong regional investor presence, with reps from Saudi’s SNB Capital and FII Institute, and the UAE’s Dubai South Properties expected to attend.

A new batch of fully serviced industrial units will be offered to investors in Luxor, Aswan, and other governorates starting 1 May, according to a statement from the Transport Ministry. The offering coincides with Labor Day and is part of the state’s broader push to attract investors across Upper Egypt.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

THE BIG STORY ABROAD-

The whiplash from Trump’s on-again-off-again tariff policy is far from over: US President Donald Trump dealt another blow to Big Tech after giving them a brief respite for a day by exempting consumer electronics from his new tariff regime. He later signaled that smartphones, chips, and other consumer electronics will be subject to separate levies following a national security probe into the sector. US commerce secretary Howard Lutnick said the new tariffs could come in a month or two. (Bloomberg | Reuters | Financial Times | WSJ)

It looks like Wall Street will be cheering the news: Stock futures are up and Asian markets are rising on the first trading day following news of the reprieve, signaling a potential tech stock rally. Tech stocks had shed tns of USD on the back of the earlier announcement of the tariffs, with Apple, which lost some USD 775 bn before regaining half the losses, among the biggest victims of the sell-off. (FT)

*** It’s Blackboard day: We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed.

In today’s issue: We look at French-Egyptian plans to add 100 French schools to Egypt’s education system.

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